Additionally, you must be sure to keep enough cash in the account to pay for all expenses associated with that investment (taxes, insurance, utilities, repairs, capital expenses, etc) as you may not combine your cash outside of your IRA to pay these items.

I don't see any:lawn care or snow removal (which may mean snow removal from the roof as well), Trash Pickup90% of the duplex type properties in Maine would have 1 heating system meaning landlord pays (can be substantial depending on the property), electric could be per occupant but checkI assume you would also pay water sewer --  maybe $60 per monthA building like this is Waterville is probably a old converted single family even if it is all redone I would reconsider your repair and capex estimates I don't know local Waterville but double check the property taxes

I spoke to neighbors and learned that the fire damage was not widespread, and from looking in the windows, it seems like minimal repair work. 

I got a book on framing and watched some construction projects to learn that end of things but the drywall repair was pretty much trial and error and self-taught.

.$2,135.00MONTHLY INCOME$1,694.08MONTHLY EXPENSES$440.92MONTHLY CASHFLOW14.08%PRO FORMA CAP$9,853.40NOI$22,125.00TOTAL CASH NEEDED23.91%CASH ON CASH ROI13.59%PURCHASE CAP RATEExpensesIncome50% RuleTotal operating expenses:Mortgage expenses:Vacancy:$170.80Repairs:$213.50CapEx:$106.75Electricity:$50.00Water & Sewer:$162.00Insurance:$120.00Management:$213.50P&I:$380.20Property Taxes:$277.33$72,500PURCHASE PRICEPurchase Closing Costs$2,000.00Estimated Repairs$2,000.00Total Project Cost$76,500.00After Repair Value$70,000.00 Down Payment$18,125.00Loan Amount$54,375.00Loan Points$0.00Amortized Over30 yearsLoan Interest Rate7.500%Monthly P&I$380.20Total Cash Needed$22,125.00 Financial Info2.79%2% RULE $15,625.00TOTAL INITIAL EQUITY2.83GROSS RENT MULTIPLIER 2.16DEBT COVERAGE RATIOAnalysis Over Time3% /yearEXPENSE INCREASE 3% /yearINCOME INCREASE 2% /yearPROPERTY VALUE INCREASEYear 1Year 2Year 5Year 10Year 15Year 20Year 30Total Annual Income$25,620.00$26,388.60$28,835.54$33,428.29$38,752.55$44,924.83$60,375.21Total Annual ExpensesOperating ExpensesMortgage Payment$20,328.97$15,766.60$4,562.37$20,801.97$16,239.60$4,562.37$22,307.82$17,745.45$4,562.37$25,134.21$20,571.84$4,562.37$28,410.77$23,848.40$4,562.37$32,209.20$27,646.83$4,562.37$41,717.40$37,155.03$4,562.37Total Annual Cashflow$5,291.03$5,586.63$6,527.71$8,294.08$10,341.78$12,715.62$18,657.81Cash on Cash ROI23.91%25.25%29.50%37.49%46.74%57.47%84.33%Property Value$71,400.00$72,828.00$77,285.66$85,329.61$94,210.78$104,016.32$126,795.31Equity$17,526.25$19,494.41$25,837.43$38,134.84$53,197.53$71,986.64$126,795.31Loan Balance$53,873.75$53,333.59$51,448.23$47,194.77$41,013.25$32,029.67$0.00Total Profit if Sold *-$1,449.73$6,062.22$30,895.02$80,784.39$143,073.13$220,258.21$432,774.81Annualized Total Return-6.55%12.87%19.10%16.62%14.34%12.71%10.60%

Additionally, have you considered closing costs, repairs, maintenance, taxes and utilities?

The properties I am looking at do not need major repairs and many are bank owned- foreclosures.

Imagine you buy a house in cash and you film the entire process, how you talked to the seller, how hard you worked filming the entire process with  asking the contractors how much it will take to to repair the house.

pays off $800/month principal and 300 month CF (I manage myself and this doesn't include ANY repairs). 

I just don't know how much of an issue it actually is as of yet.I have thought about getting an estimate from a foundation repair company, but at the same time would much prefer to have an independent analysis of what exactly is needed instead of hearing it from someone who can easily inflate the situation to improve their own profit.Thanks for any tips!